ASEAN and Hong Kong signed a free trade and investment agreement on Monday, hoping to strengthen economic cooperation between the two parties and stimulate development in the region.
The two agreements, the Asean-Hong Kong, China Free Trade Agreement (AHKFTA) and the Asean-Hong Kong Investment Agreement (AHKIA), were signed at the the 31st Asean-Hong Kong summit in Manila, Antara reported on Monday.
“The agreements create opportunities for Asean because they will ensure greater access to both trade and investment,” Philippine Trade and Industry Secretary Ramon Lopez said.
He said the agreements also create opportunities for micro, small and medium enterprises in Asean countries to increase their presence in Hong Hong.
AHKFTA is the sixth free trade agreement signed by Asean, having already signed free trade agreements with China, South Korea, Japan, India, Australia and New Zealand.